State Bank (Privatisation) Act 1994

This section applies to the following:

the operation of this Act,

the sale of the Bank as authorised by this Act,

the transfer of a Minister’s shares in the Bank in accordance with the Share Sale Agreement,

the Share Sale Agreement or the performance of the Share Sale Agreement,

a Transaction Document or the performance of a Transaction Document,

any other agreement, or any guarantee or other arrangement, under or referred to in this Act or entered into for purposes connected with this Act,

a disclosure of information made for the purposes of the sale or proposed sale of the Bank (including a disclosure in any memorandum of information given to persons expressing an interest in the sale or a disclosure in any response to an inquiry made by a prospective purchaser),

a disclosure of information made pursuant to the Share Sale Agreement.

None of the matters or things referred to in subsection (1) are to be regarded as a breach of confidence or otherwise as a civil wrong or as giving rise to a breach of or an offence against a provision of an Act that prohibits or restricts the disclosure of information.

None of the matters or things referred to in subsection (1) are to be regarded:

as a breach of contract or another instrument or as requiring any act to be done under an instrument, or

as giving rise to any right or remedy by a party to an instrument, or as causing or permitting the termination of an instrument, or

as an event of default under an instrument, or

as a contravention of section 205 (1) (a) of the Corporations Law.

Subsections (2) and (3) do not affect, and a reference in subsection (3) to an instrument does not include, any of the following:

the Share Sale Agreement or a Transaction Document,

any other agreement, or any guarantee or other arrangement, under or referred to in this Act or entered into for purposes connected with this Act.

A reference in subsection (3) to an instrument does not include an Act.

Subsection (3) (d) has effect despite section 205 of the Corporations Law.